The province is providing up to $20,000 for eligible businesses impacted by the shutdown
The grant, first announced in December, provides a minimum of $10,000 to a maximum of $20,000 to eligible small businesses who have had to restrict their operations due to the provincewide shutdown. The tightened restrictions were put in place to help stop the alarming rise of COVID-19 cases in Ontario.
Small businesses required to close or significantly restrict services under the shutdown will be able to apply for a one-time grant and use this funding in whatever way makes the most sense for their individual business needs. For example, some businesses could need support paying employee wages, while others could need support with their rent.
Eligible small businesses include those that:
- Were required to close or significantly restrict services due to the shutdown
- Have fewer than 100 employees at the enterprise level
- Have experienced a minimum of 20 per cent revenue decline in April 2020 compared to April 2019
- New businesses established since April 2019 will also be eligible if they meet the other eligibility criteria
More details are outlined in the full application guide.
“Small businesses are the heart of Ontario’s economy,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “The Ontario Small Business Support Grant will help thousands of small businesses get through this difficult time, while strengthening our province’s economic recovery.”
“As the son of two small business owners, I understand what small businesses mean to the families, employees, and local communities they support,” said Prabmeet Sarkaria, Associate Minister of Small Business and Red Tape Reduction. “Our hardworking businesses can be encouraged that the government’s new Ontario Small Business Support Grant offers yet another helping hand that will give them the boost they need to meet the challenges of today and prepare for a brighter tomorrow.”
Businesses impacted by the shutdown are also eligible for additional supports, including the government’s program to provide rebates to offset fixed costs such as property tax and energy bills. These rebates will continue to be available for businesses impacted by the shutdown and earlier restrictions.
More information about the Ontario Small Business Support Grant and other rebates is available on Ontario.ca/COVIDsupport.
The grant portal can be accessed here.